Lawrence Ho Transfers 26.4 Million Melco Shares to Private Trust
Macau — September 21, 2026 — Melco Resorts & Entertainment Chairman and CEO Lawrence Ho has transferred 26,440,086 ordinary shares in the casino operator to an irrevocable, professionally managed private trust as part of what regulatory filings describe as a generational wealth planning exercise.
The transaction, disclosed through filings with the US Securities and Exchange Commission (SEC), involved shares held directly by Ho as well as shares held indirectly through Black Spade Capital Limited. It was recorded as a gift with no consideration, rather than a sale of the securities.
The move changes Ho's reported beneficial ownership in Melco Resorts but does not remove the Ho-controlled interests' majority position in the company.
Lawrence Ho Melco shares transfer reshapes reported ownership
The transfer was completed on September 16 and covered 16,505,664 shares held directly by Ho and 9,934,422 shares held through Black Spade Capital, according to the reported filings.
The 26.44 million shares represent approximately 2.2% of Melco Resorts' outstanding ordinary shares. The securities are ordinary shares of Melco Resorts, whose American depositary shares (ADSs) trade on Nasdaq. Each ADS represents three ordinary shares.
Following the transfer, Ho's reported beneficial ownership fell from approximately 58.5% to 56.3%, according to the latest ownership disclosures. The 687.36 million ordinary shares held through Melco Leisure and Entertainment Group remained in place.
The ownership structure therefore continues to give the Ho-controlled group majority control of Melco Resorts.
Private trust forms part of generational wealth planning
The SEC disclosure describes the transaction as a transfer of ordinary shares by gift to an “irrevocable, professionally-managed trust” for generational wealth planning.
The filing does not identify the trust's trustee, beneficiaries or jurisdiction. It also does not indicate that the shares were sold or exchanged for cash.
The structure is notable because part of the transferred stake was already connected to a trust-associated ownership structure. Black Spade Capital's Melco Resorts shares were held through companies owned by a trust associated with Ho, according to the SEC disclosures.
The transaction therefore represents an adjustment to the reported beneficial ownership structure rather than an exit from Melco Resorts.
Ho-controlled stake remains above 50%
Despite the transfer, Melco Resorts continues to have a majority shareholder structure linked to Ho and Melco International Development.
The latest Schedule 13D disclosure identifies 687.36 million ordinary shares, equivalent to 56.3% of Melco Resorts, as being held by Melco Leisure and Entertainment Group. Melco Leisure is a wholly owned subsidiary of Hong Kong-listed Melco International Development.
The filing also states that Ho is deemed to have interests in Melco International shares held through various companies and trusts associated with him and his family.
Melco Resorts' ownership structure consequently remains concentrated, with the latest transfer changing the allocation of Ho's beneficial interests without altering the group's majority position.
Melco Resorts share structure remains under Ho's control
Ho also continues to have interests connected to restricted Melco Resorts shares awarded under the company's share incentive plans. The company's SEC filings identify unvested restricted shares that are scheduled to be delivered when the applicable vesting conditions are satisfied.
The latest transaction should therefore be distinguished from a conventional disposal of shares. No cash consideration was reported, and the stated purpose was wealth planning across generations.
For investors and the Macau gaming sector, the disclosure provides a clearer picture of how a major shareholder's interests in one of Macau's casino operators are being structured while majority control remains intact.
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ASGAM - Lawrence Ho gifts 26.4 million Melco shares to private trust for “generational wealth planning”
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